Part 1BackgroundThe functionality of a nation's financial system is critically important to the health of its economy. Transmitting funds from individuals and entities with a surplus to parties with a productive use for funds is the predominant component of a high functioning financial system. Imagine if financial institutions consistently provided large amounts of capital to parties without performing the proper due diligence, thereby sustaining substantial losses. This would undoubtedly have an adverse impact on the economic conditions.The consensus among scholars and academics alike is that the private banking industry has been insufficiently monitoring investments, especially prior to the recent financial crisis. The lack of regulations led to inappropriately relaxed risk management environments within banks, causing the near collapse of the global economy in the late 2000s.InstructionsYour employer, Capital Financial, is a member of the local chamber of commerce. They have been asked to deliver a lecture on banking, regulatory standards, and managing risk. For this opportunity, you have been asked to prepare a PowerPoint presentation and submit it to the event planner for review. The presentation should address the following:What is the role of the banking system in the economy?Identify and assess two functions that banks play in the economy.Identify two examples that demonstrate the adverse economic impact of ineptitude in banking and offer techniques to mitigate this impact.How has the regulatory environment of the banking system changed in the last 15 years?Are the regulations effective? Why or why not? Please provide a rationale to support your answer.What standard operating procedures did banks have to employ as a result of regulatory changes?What are the consequences of failing to meet the standards outlined by regulators?There is no length requirement specified for this assignment because the number of slides necessary to demonstrate your knowledge will be greatly influenced by the design approach you choose. Be sure to include APA citations for any resources you used and present the sources in APA format on a References slide at the end of the presentation.PART 2The government plays a far-reaching role in the financial services industry in many ways. It enacts regulations that can have either positive or negative influences on the industry. For example, increased regulation typically means that firms need to pay more attention to compliance which increases the time and effort to adapt business practices in order to follow the new regulations correctly.For your initial post, write a paragraph that conveys your thoughts on the following:Role of government in the financial services industry. Are you for or against it? Why or why not? Explain. Use your experiences from your workplace or as a consumer of the financial services industry.How have the regulations affected you? Describe a specific act or acts you are affected by and explain the impacts.For your reply to a classmate's post, offer a different viewpoint regarding the regulations and their impacts. Alternatively, expand on their post's position, particularly the impact on the investment community.Please make your initial post by midweek, and respond to at least one other student's post by the end of the week. Please check the Course Calendar for specific due dates.